Celestia ($TIA)
Project Goal and Unique Selling Points (USPs)
Celestia is a modular blockchain project with a focus on data availability. While Celestia mainly functions as the consensus and data availability layers, enabling next-generation scalable blockchain architectures, Celestia Labs has proposed Sovereign Rollups to facilitate its functions as the execution and settlement layers. In terms of product and technology, Data Availability Sampling (DAS) and Namespaced Merkle Trees (NMTs) facilitate the breakthroughs of Celestia in decentralization and security as a consensus layer and DA layer. At the same time, Sovereign Rollups ensure the scalability of execution and settlement layers built on Celestia, thereby allowing Celestia, as a modular blockchain, to better cope with the blockchain trilemma. As a result, Celestia reveals immense development potential and bright development prospects.
What is the token utility?
TIA, the native token of the Celestia blockchain, is integral to both development and governance on the platform. It streamlines blockchain deployment, allowing developers to use TIA tokens for bootstrapping new rollups without the need for separate token issuance, akin to ETH's role in Ethereum-based rollups. These tokens are also essential for transactions, particularly for paying 'blobspace' fees in data publishing. Security-wise, TIA facilitates the proof-of-stake consensus mechanism, where users stake tokens to support network validators and earn rewards. Uniquely, Celestia's governance model is decentralized, enabling token holders to vote and propose changes without needing to stake their TIA, fostering a more inclusive decision-making process and avoiding centralization of power among founders. This comprehensive utility of TIA tokens underscores their significance in Celestia's ecosystem, blending functionality with a commitment to decentralized governance.
What is its current status?
Celestia's mainnet launch introduced data availability sampling (DAS), an untested technology. The launch of Celestia has sparked significant industry attention and fueled the trend of ‘modular blockchains
